The Types of Goods
Four Types of Goods and Two Characteristics
The Types of Goods
Four Types of Goods and Two Characteristics
Let's break up goods and services into different categories.
1
concept
Two Characteristics:Rivalry in Consumption and Excludability
5m
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2
concept
The Four Types of Goods:Private Goods, Club Goods, Common Resources, and Public Goods
11m
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3
Problem
ProblemLabel the goods as Private Goods (PRI), Common Resources (CR), Club Goods (CG), or Public Goods (PUB).
8m
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4
Problem
ProblemA slice of pizza is:
A
Rival
B
Non-rival
C
Non-excludable
D
Both (a) and (c)
5
Problem
ProblemAn example of an excludable good is:
A
The court system
B
Public roads
C
National Defense
D
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